Seaborne coking coal spot prices were mostly unchanged on Thursday November 1 amid an inactive market.In China, spot prices for domestic coking coal from Shanxi to Tangshan increased by around 60-70 yuan ($8.60-10) per tonne, a coke plant source in Tangshan said."We saw that coming. We are now paying around 1,520 yuan per tonne for hard coking coal with 1.3% sulfur and around 1,840 yuan per tonne...Read More
China's ferrous futures were mixed during morning trading on Thursday November 1, with the hot-rolled coil contract trending downward during the session while the coking coal one went the opposite direction. The rebar, iron ore and coke contracts did not end too far from their opening prices.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,140 yuan ($594) per ton...Read More
Xcoal Energy & Resources has exported the first cargo of Baralaba low-vol pulverized coal injection (PCI) shipment from the Baralaba North mine in Queensland, Australia, it said on Wednesday October 31. The mine is on track to produce 250,000 tonnes of coal this quarter, with the first shipment sold to an end user in China, chief executive officer Ernie Thrasher said in a statement. The mine is ra...Read More
Benchmark international prices for cobalt stabilized last month, but salts and metal prices fell in China amid weak demand and falling local futures prices, triggering a physical sell-off.Price moves: Benchmark low-grade cobalt traded in the remarkably stable range of $33.50-34.45 per lb in October, where the assessment also ended the month. Tightness continued in the low-grade market, which takes...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed ferrous trade cases from around the world in October 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April, May, June, July, August and September.1. EU: seamless steel pipes and tubes from Ru...Read More
Good morning from Fastmarkets MB's offices in Asia, bringing the latest news and pricing stories on Thursday November 1. Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading, with the complex coming under pressure from weaker China data. China's weak manufacturing growth for October, with manufacturing PMI at 50.2 and non-manufacturing PMI...Read More
Import prices for stainless steel in East Asia declined further over the past week after exporters continued to lower their offers amid pressure from stagnant demand and a slumping nickel market.Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil was $2,040-2,110 per tonne cif East Asia for the week ended Wednesday October 31, down by $20-30 per tonne from a wee...Read More
China's domestic stainless steel prices trended downward for a third week due to soft demand and losses in the nickel market.Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,400-15,700 yuan ($2,208-2,251) per tonne including VAT for the week ended Wednesday October 31, down 100 yuan per tonne from a week earlier.An inactive downstrea...Read More
Key data from the Wednesday October 31 pricing session in Asia. Key drivers: - Japanese buyers maintained bid prices, accepting current market levels. - Offers from new supply regions, such as Russia and the...Read More
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Snapping up mining and mineral stocks can be a great route into investing for beginners - but with so much to choose from on the TSX index, picking a decently valued buy with enough relatively assured upside can be far from easy. One of the first things that newcomers tend to discover when they first start looking into how to invest in the stock market is that trading forums are packed with tips f...Read More
After nearly collapsing after a poorly conceived attempt at expansion, there are signs that dedicated palladium miner North American Palladium (TSX:PDL) is starting to unlock value for investors. For 2017 it recorded a record profit, and in early 2018 it launched a strategic review aimed at maximizing shareholder value. The latest results indicate that North American Palladium is delivering valu...Read More
October was a rough month for the TSX Index, and investors are now looking at the carnage and wondering which names might be setting up for a big recovery heading into 2019.Let's take a look at three market leaders that have taken a hit recently, but might be interesting picks for your TFSA portfolio today.Suncor Energy (TSX:SU)(NYSE:SU)Oil prices are moving in the opposite direction than most peo...Read More
I have not had a chance to scour the 10-Q, which was finally filed this morning. GM and Ford are 7-8x larger than Tesla in terms of revenues and 40-50x larger in terms of number of vehicles sold worldwide. Those two companies file their 10-Q almost immediately after filing the quarterly 8-K financial summary. There's no reason for TSLA to delay the filing of its 10-Q by over a week other than...Read More
Bob Moriarty ArchivesNov 2, 2018Nexus announced some drill results a week ago that may have confused investors. The results were actually quite good. But they will be announcing a lot more drill results shortly and when they do investors will have far more of a chance to judge the company.I've been to Burkina Faso 3-4 times [I used to bring giraffes back for Barb] and it is one of the better count...Read More
Channel sampling at Gunner's Cove, one of White Metal's Newfoundland properties. Source: White Metal Resources Corp.White Metal Resources Corp. [WHM-TSXV; TNMLF-OTC] rallied sharply Friday November 2 after the company released a report on its initial due diligence grab sampling from its recently optioned Little Joanna gold property in Central Newfoundland.The company said a total of seven grab sam...Read More
Examples of visible gold from Marathon Gold's Valentine Lake Project in Newfoundland. Source: Marathon Gold Corp.Marathon Gold Corp. [MOZ-TSX; MGDPF-OTC] has added two years of mine life and 827,000 ounces of gold to the mix in an updated Preliminary Economic Assessment of its Valentine Lake gold project in Newfoundland.The project's after-tax Net Present Value rose to US$493.2 million from US$366...Read More
Notes:1. Grades/widths of mineralized intervals represent complete "from" "to" drill depths as shown.2. All holes (with the exception of S18-122 which was drilled vertically) were drilled at 45-70 degree inclinations designed to be roughly perpendicular to the understood dip of mineralized structures based on the current understanding of the geological structures. The true widths of the mineralize...Read More
Alliance Mining Corp. [ALM-TSXV] on Thursday November 1 said recent analysis of the 2006 drill logs from its Tonopah uranium project in Nevada has revealed the presence of vanadium in both the oxidized and non-oxidized clastic sediments.Alliance Mining shares rallied on the news, rising 40% or $0.01 to 3.5 cents.Alliance said vanadium is growing in importance for key industrial manufacturing secto...Read More
SASKATOON - Cameco Corp. says it earned $28 million in its latest quarter compared with a loss in the same quarter last year.The uranium miner says the profit amounted to seven cents per share for the quarter ended Sept. 30 compared with a loss of $124 million or 31 cents per share a year ago.Revenue totalled $488 million, up from $486 million.On an adjusted basis, Cameco says it earned $15 millio...Read More